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Presight Delivers Record-Breaking Financial Performance for FY 2024

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Financial Performance

Presight AI Holding PLC recently announced its financial results for the full year ending December 31, 2024. Presight’s FY 2024 results saw record revenue of AED 2,213 million, an increase of 24.3% compared to FY 2023 as the Company continued to reap the rewards of its comprehensive offering, investments, and growth in international operations.

The strong performance reflected in EBITDA as well, which grew 25.2% YoY to AED 635.4 million due to a favourable deployment mix in FY 2024. At its bottom-line, the Company reported net profit after tax of AED 612.8 million, reflecting an increase of 7.4% YoY in FY 2024, including a maiden year of Corporation Tax.

Presight’s top-line performance came on the back of a growing proportion of multi-year contracts, strong new orders, as well as the Company’s expansion across international markets as it continues to extend its offering to customers globally. On this front, international markets contributed 23.0% of Presight’s revenue and booked a 3.5x increase to AED 508.2 million in FY 2024.

Moreover, Presight’s highly liquid, debt-free balance sheet, with a cash and equivalents balance of AED 1.94 billion in FY 2024, provides ample financial flexibility to support operations and headroom to drive future growth.

His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of the Board of Directors of Presight commented:

“Presight’s full year results demonstrate strong execution against strategic objectives, namely international expansion, investing in capability and innovation, and growing through value-accretive M&A. At the heart of its business lies a commitment to leverage artificial intelligence to bring transformative benefits, across a diverse range of industries, that define a safer and more sustainable economic future, and I am confident that Presight will continue to create value for all stakeholders in both the near and medium term.”

Thomas Pramotedham, Chief Executive Officer of Presight, commented:

“The past twelve months have been transformational for Presight. From establishing ourselves as a critical AI and digital transformation partner across key state-owned enterprises in the UAE, to supporting governments and large enterprises across four continents in realizing their strategic AI ambitions by adopting ‘Applied Intelligence’ today.

“FY 2024 has been a year of outstanding operational execution, with every metric from orders, revenue, profit and cash exceeding market expectations. Ending the year with an AED 2.99 billion backlog stands us in good stead to drive future growth.

“We made significant additions to our growing portfolio of best-in-class Applied AI products and solutions, including our Presight Enterprise suite, to support large-scale deployment of AI technology.

“We acquired a majority stake in leading AI energy provider, AIQ, and launched ENERGYai as the world’s first Agentic AI Energy Platform which, together with the formation of our IntelliGrid joint venture, will enable Presight to play a pivotal role in the global energy transition.

“These results are a testament of our commitment to use technology and AI to solve complex problems for the advancement of humankind and deliver significant value accretion for all stakeholders. 

“I remain grateful for the wise counsel and visionary leadership of our Board of Directors, as well as the continued passion and dedication of all our colleagues across the Group. The results today speak for themselves, but this is just the beginning. There is so much more we can and will achieve, creating a perpetual impact globally through the responsible and ethical use of AI.”

The 2024 business highlights include:

  • Renewed existing and negotiated new domestic/international contracts with a value of AED 3.6 billion.
  • Forged strong technology partnerships, including global technology leaders such as Microsoft, Dell and Intel, to further enhance our technology portfolio and accelerate ‘Applied Intelligence’ AI projects across the region.
  • Acquired 51% of AIQ, a leading provider of AI solutions in the energy sector.
  • Through AIQ, launched ENERGYai, a first-of-its-kind Agentic AI platform for the Energy sector. ADNOC has committed to deploy ENERGYai across its entire upstream value chain.
  • Formed IntelliGrid, a joint venture between Esyasoft and Presight, which signed a 13-year, AED 1.76 billion preliminary agreement with SOCAR, the state-owned national oil and gas company of Azerbaijan, to implement a state-of-the-art Smart Gas Grid Management System across the entire AzeriGas service area in Azerbaijan.
  • Launched cutting-edge AI and Applied AI products and solutions, including the sector and scale agnostic Presight Enterprise suite and Presight Intelli-Platform underpinning a raft of a scalable, adaptable Smart City solutions.
  • Launched Presight DataHub, the UAE’s first sovereign enterprise data marketplace platform and Presight AI-Startup Accelerator Program.
  • Strengthened membership of our Board of Directors, bringing unrivalled leadership, guidance and expertise across the AI, Technology, and Energy sectors.
  • Received the “UAE AI Data Analytics Innovator of the Year” Award by Dell Technologies.
  • Maintained the highest standards of corporate governance, manifested in the award of nine ISO certifications.

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Snowflake powers KSA’s Zahid Group’s data and AI transformation to unlock enterprise value

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Zahid Group, one of Saudi Arabia’s leading diversified business groups spanning heavy equipment, energy, transport and manufacturing, and others, has selected Snowflake, the AI Data Cloud company, as the strategic foundation for its enterprise data and AI transformation, giving the Group a scalable way to strengthen governance, advance AI adoption, and elevate customer experiences enterprise-wide. The relationship was formalized during a signing ceremony at Zahid Business Park in Jeddah, launching a multi-year investment that will strengthen productivity and support technology-led growth in line with Saudi Vision 2030.

With Snowflake, Zahid Group’s Digital Solutions Division is unifying data from across its business streams and departments on a governed, secure, centralized and scalable lakehouse platform. A modern business intelligence ecosystem will give leaders faster access to information, enabling them to spend less time reconciling reports and more time acting on insights. The next phase will use Snowflake Cortex AI to enable employees to engage with data through natural language, reducing reliance on traditional reporting and shortening the path from question to decision.

Snowflake’s adoption at Zahid Group comes as Saudi Arabia accelerates its goal of becoming the Middle East’s leading AI infrastructure and technology hub. The Council of Ministers has designated 2026 as the Year of AI, and PwC estimates that AI could contribute around 12.4% of the country’s GDP by 2030.

Before adopting Snowflake, Zahid Group’s data was dispersed across multiple systems, requiring extensive manual consolidation and resulting in reporting inconsistencies that slowed decision-making. As an early proof of value, the Caterpillar Helios initiative demonstrated the power of secure, real-time data sharing through Snowflake. Building on this foundation, Zahid Group is now extending Snowflake’s capabilities across its digital ecosystem, enabling real-time data streaming and integration with core platforms such as Infor and Salesforce.

This connected architecture has standardized critical reporting processes, reducing month-end reporting cycles from days to hours, and in many cases minutes. By eliminating manual effort and improving data consistency, it provides leaders with timely, trusted insights that support faster decision-making and strengthen a culture of data-driven innovation.

Suzan Sadek, Group IT Manager, Zahid Group, said: “Data is one of the most valuable assets of the digital economy. By choosing Snowflake, we are building a trusted and scalable data foundation that enables AI-driven innovation, faster decision-making, and improved customer experience. This transformation strengthens Zahid Group’s competitiveness, while supporting Saudi Arabia’s Vision 2030 ambition to create a data-driven economy.”

Michel Nader, General Manager for the Middle East, Turkey & Africa, Snowflake, said: “Zahid Group is demonstrating how trusted data can become the foundation for enterprise AI at scale. Snowflake brings information closer to customers while providing leading AI capabilities to enable digital transformation across Zahid’s operating environment. We are proud to support the company’s next phase too, where employees can access trusted insights faster and strengthen the Group’s ability to create lasting and scalable value across its businesses.”

Looking ahead, Zahid Group will expand Snowflake’s platform’s role across the Group, extending governed data products, advanced analytics and AI capabilities into more business functions to deliver measurable value for customers, partners and employees.

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PNY Technologies Joins LEAP 2026 with the Latest AI Technologies – Riyadh, Saudi Arabia | 31 August to 3 September | Booth H3-D10

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PNY Technologies announces its participation in LEAP 2026, taking place in Riyadh from 31 August to 3 September, where it will present its latest AI infrastructure and accelerated computing solutions.

The showcase will feature the technologies behind PNY’s AI infrastructure portfolio, from the AI Enterprise Factory to the latest NVIDIA RTX PRO and GeForce graphics solutions, together with networking and infrastructure technologies.

Visitors will also be able to explore the PNY AI Factory Digital Twin Configurator, which allows users to design and configure their own AI factory using digital twins and NVIDIA Omniverse.

PNY will also host live demonstrations developed in collaboration with its technology partners, including SOMOD, DDN, INFINIARC, VERTIV, and F5.

The company’s participation in LEAP 2026 reflects its continued commitment to supporting AI innovation across the Middle East and helping shape the technologies powering the region’s digital transformation.

The PNY team, including regional representatives, will be on-site throughout LEAP 2026 to meet with visitors, partners, and members of the media at Hall H3, Booth D10. Attendees wishing to arrange a briefing or interview are welcome to submit a request below.

Contact request: https://forms.pny.eu/pny-at-leap-2026/

Press contact: sverdier@pny.com / mhamdouche@pny.com

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Globant Introduces Glob.AI, Reinventing Technology Services for the AI Era

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Globant (NYSE: GLOB), a global company focused on driving enterprise reinvention through AI, today introduces Glob.AI, a new AI-native tech services model that fundamentally changes how enterprises access, purchase and deploy AI services. Available online through a self-service model, Glob.AI gives organizations access to enterprise-grade, high quality AI Pods (service units run by a set of AI agents and supervised by humans). Companies are charged for what they produce -per output or per consumption- never per seat or per hour.

“For over 20 years, Globant has stayed ahead of every major technology shift, and AI is no different. Glob.AI is our next step: the one-stop shop where our AI Pods live, each specialized by task and industry. Traditional AI adoption drives token consumption far beyond what efficient output requires, and the real cost is the wasted tokens plus the unstructured, manual supervision of AI. AI Pods introduce a smarter model, running the right AI through parallel agents, loops, workflows, and deterministic processes, representing the true state of the art of what AI can deliver today,” said Martín Migoya, CEO and co-founder of Globant.

Glob.AI brings together AI-native velocity with Globant’s 23 years of enterprise delivery baked into the governance layer. AI agents do the heavy lifting, with Globant’s experts supervising their outputs and guiding every step. Glob.AI works to standards–documented, tested, secure, built for enterprise scale. It’s the speed AI promises, with the rigor and quality that businesses need, by including:

  • Well-defined, deterministic, and repeatable processes, supervised end to end by experts
  • Optimized AI usage and transparent pricing: customers pay strictly for expert-validated outputs and/or real consumption — not hours, seats, AI hallucinations, retries, or wasted cycles.
  • At least 30% more productive than the typical engineer-plus-AI approach
  • Full AI sovereignty and governance: total flexibility over which models customers use and where they run them, with zero client data ever used to train external models.
  • Token consumption secured in a client’s proprietary Token Vault, providing full traceability and compounding a client’s institutional knowledge over time.

“AI is not just making the same projects faster, it is making thousands of projects viable that never were before,” said Guibert Englebienne, co-founder of Globant. “Until today, enterprises could not buy technology services this way: instantly, transparently, paying only for results. That is the shift Glob.AI delivers, and the strong demand for AI Pods shows enterprises are ready for it.”

Organizations joining the waiting list at Glob.AI will gain early access to a comprehensive catalog of agentic workflows capable of building and deploying solutions for enterprise platforms and specialized industry use cases. The AI Pods in the offering also include partnerships with major organizations including Anthropic, AWS, Vercel, OpenAI, Adobe, Azure, Google Cloud Platform, SAP and Salesforce.

Traditional enterprise tech services require months of discovery, RFPs, and procurement cycles before the work begins. Glob.AI changes that model entirely. Users can log in and immediately start building enterprise grade software. Tech delivery becomes a live, continuous service rather than a fixed-term project — every improvement and release happening on the platform, fully visible to the client, in real time.

Globant released AI Pods in mid-2025, and they are already in use by several Fortune 500 organizations across media, entertainment, professional services, and finance, delivering early results that include:

  • FIFA experiencing a 20% efficiency increase in throughput generation while maintaining or improving quality rates
  • LALIGA deploying AI across key functions in three months
  • YPF reducing contract timelines by up to 40%
  • PharmaMar achieving 15x faster insights in oncology research
  • A leading commercial bank completing a COBOL migration in 2 months versus 14 as projected with a traditional approach
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